Weebit Nano (ASX:RAD)
When it comes to semi-conductor chip manufacturing, there is no company more successful than global behemoth Intel.
One key man behind Intel’s success is David ‘Dadi’ Perlmutter – former Executive Vice President and Chief Product Officer.
Perlmutter grew Intel’s business from $US35 billion in 2008 to more than $US50 billion and oversaw investments and acquisitions exceeding $US2.5 billion.
Almost everyone would have been touched by this man’s work – he led the team that developed the architecture of the Pentium processor, and the Centrino mobile processer – to name just a few of his game changing achievements.
And now, he has jumped shipped to an Israeli tech company, gearing up for an ASX listing via a Reverse Take Over of a dormant shell company.
Enthused by this company’s work in the memory storage technology space, and the potential of its technology to transform the market, Perlmutter has signed up.
This company is building memory tech to fill a growing market gap in memory storage space through patented breakthrough technology that will increase storage space, reduce production and maintenance costs and improve access speeds.
The ASX shell will be looking to raise up to $10M in the coming weeks to fund product development and the commercialisation of the technology.
With Perlmutter’s industry knowledge and networks, vast experience and market understanding, he will drive product development, with the aim of emulating some of the success he had over many years at Intel.
At the same time, there is no guarantee this company will be able to successfully commercialise its technology – this is an early stage tech investment, so caution is advised before choosing to invest.
With this ‘Big Dadi’ now acting as a driving force for this technology alongside the company’s finest scientific minds, this ASX shell is set to enter a growing market with the expertise and backing to make a real impact:
Shock Recruit: Ex Intel Heavyweight Joins RAD Take Over Target
Mar 22, 2016
Radar Iron (ASX:RAD) via its RTO target Weebit, is determined to fill that growing market gap in memory storage through patented breakthrough technology that will increase storage space, reduce production and maintenance costs and improve access speeds in one swoop.